Shared Equity Schemes Changes

10th November 2009

With effect from 25 November 2009 we will be introducing some changes to our Shared Equity policy:

• All mortgages need to be repaid on a capital and interest basis – interest-only is not available
• Customers need to provide a personal deposit of at least 5% of the share they are purchasing

Please ensure applications are only submitted where a customer has had their funding agreed.

This would not apply to existing customers who already have a mortgage and are switching products, changing their repayment method or amending the term. However, if the product was being ported onto another shared equity property, we would require a 5% deposit.

If you have any questions on this or any other queries, please contact us on 0845 900 11 10 anytime from 9am till 5.30pm, Monday to Friday.